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MAYR - MELNHOF KARTON Aktiengesellschaft Press Release MM Vienna , August 20 , 2026 MM reports half - year results for 2026 • Leading in Consumer Packaging Adj . EBITDA matches almost prior - year level ( like - for - like , excl . TANN ) with clear sequential improvement over HY2 / 2025 - - EUR 105 million Fit - For - Future programme contribution in HY1 / 2026 mitigated mainly for lower prices in Board & Paper Adj . EBITDA Pharma & Healthcare Packaging + 14 % Adj . EBITDA Food & Premium Packaging ( like - for - like , excl . TANN ) + 1 % Adj . EBITDA Board & Paper - 19 % Fit - For - Future programme exceeds expectations - Expected total P & L contribution by 2027 raised to above EUR 330 million from > EUR 250 million before ( compared with 2024 excl . TANN ) Major capex projects in cost and energy efficiency and transformation on track Attractive synergy potential through planned acquisition of Arnsberg cartonboard mill GROUP KEY INDICATORS - IFRS ( consolidated , in millions of EUR ) Sales 1st HY / 2026 1st HY / 2025 +/- Adjusted EBITDA 1,849.3 200.2 2,030.0 230.5 - 8.9 % - 13.1 % Adjusted operating profit 89.8 116.7 - 23.1 % 2nd HY / 2025 1,855.3 187.7 78.7 +/- - 0.3 % + 6.6 % + 14.2 % Adjusted EBITDA margin ( % ) 10.8 % 11.4 % - 53 bp 10.1 % +71 bp Adjusted operating margin ( % ) 4.9 % 5.8 % - 89 bp 4.2 % + 62 bp Adjusted return on capital employed ( LTM ) ( % ) 5.3 % 6.3 % - 104 bp 5.8 % - 56 bp Operating profit 66.9 234.0 - 71.4 % ( 13.0 ) n.m. Profit before tax 45.8 194.8 - 76.5 % ( 49.1 ) n.m. Income tax expense ( 14.6 ) ( 30.5 ) ( 38.2 ) Profit for the period 31.2 164.3 - 81.0 % ( 87.3 ) n.m. Net profit margin ( % ) 1.7 % 8.1 % Earnings per share ( in EUR ) 1.60 8.29 - 80.7 % -4.7 % -4.43 n.m. Cash flow from operating activities 145.1 ( 103.3 ) n.m. Free cash flow 37.0 ( 205.4 ) n.m. 334.4 216.5 - 56.6 % - 82.9 % Capital expenditures 111.8 105.3 127.4 Depreciation and amortisation 110.0 110.7 109.0 Impairments and write - ups 0.4 3.2 73.1 Employees¹ ) 13,080 13,804 13,347 ¹ ) excl . temporary workers Peter Oswald , MM CEO : “ The MM Group demonstrated resilient earnings development in the 1st half - year of 2026 , maintaining adjusted EBITDA almost at the prior - year level on a like - for - like basis excl . TANN while achieving a marked improvement compared with the 2nd half - year of 2025 despite persistently subdued market demand . A EUR 105 million contribution from the Fit - For - Future programme mitigated mainly for lower selling prices in Board & Paper . Performance was particularly strong in Pharma & Mayr - Melnhof Karton AG - Results for the 1st Half - Year of 2026 1/14